Economic Dashboard September 2017

How is the economy right now in Durango and La Plata County?

Find out the latest on our employment, home construction, tourism, and other key measures of our local economic performance. If you have any questions, please feel free to contact us and we can walk you through what the data means.

Local Economic Conditions

September 2017

Economic conditions in La Plata County from September 2013 to September 2017.

 

Summary
Improved (+) 9
No Change (o) 4
Declined (-) 8
Improved (Declined) 1
8
Current Last Month Last Year

Change

(vs Last Year)

Workforce
  Labor Force 32,196 31,739 30,142 +
  Unemployment Rate (%) 1.9 1.9 2.5 +
  Labor Force Participation (%) 56.5 55.8 53.8 +
  Job Openings 1,698 1,860 2,144
Average Wage, Openings ($to Date) 34,336 34,604 32,216 +
8
Construction & Housing
  New Permits (to Date) 207 178 189 +
  Value of Permits ($,000) (to Date) 104,409 87,927 92,603 +
  Home Sales 644 565 614 +
  Average Home Price ($) 438,935 433,419 435,908 o
  Earnings Needed* ($) 70,800 70,500 67,400
8
Travel & Tourism
  Enplanements 17,373 18,003 18,073
  Lodgers Tax ($) 142,099 164,387 133,870 +
  Train Visitors 24,164 25,383 24,133 o
8
Gas & Oil
  New Permits (to date) 93 81 84 +
  Production (mmcf) 23,700 24,223 25,521
8
Other
Sales Tax, Durango ($,000)** 1,510 1,548 1,521 o
Commercial Sales ($,000) (to date) 26,208 18,376 27,169
Foreclosures (to date) 46 42 42
  Energy Use
     Large Industry (mwh) 31,150 32,638 32,143
     Other Commercial (mwh) 20,462 21,537 21,861
     Commercial Accounts 6,424 6,424 6,384 o

Notes:

*”Earnings needed” is the household income necessary to purchase an average-priced home in La Plata County.

**Sales tax for Durango includes Use Tax.

Sources: Employment: Colorado Department of Labor and US Census Construction & Housing: City of Durango, La Plata County, Mortgage-X.com, and the Wells Group  Travel & Tourism: City of Durango, Durango Area Tourism Organization (DATO), and Durango & Silverton Narrow Gauge Railroad   Gas & Oil: Colorado Oil & Gas Conservation Commission  Other: City of Durango (Sales tax and business permits), La Plata County Treasurers Office (Foreclosures),  and LPEA (Energy Use) (LPEA data is unaudited)